Global Digital Niaga, owner of e-commerce group Blibli, plans to raise 8.17 trillion rupees ($528 million) next month through an initial public offering that will be the second largest of the year.

In a prospectus submitted to the Indonesia Stock Exchange on Monday, Blibli said that it will offer up to 17.7 billion shares, or 15% of its total shares, in a price range of 410-460 rupees per piece, giving the company a valuation as much as possible. 3.5 billion dollars.

The company said it plans to use the money to pay off its debt and renew its working capital. The offering period will be from November 1-3, and its listing is expected on November 7.

Blibli’s initial public offering comes on the heels of the listing of unicorn tech company GoTo, which raised $1.1 billion in April. GoTo was formed by the previous merger of Gojek and leading e-commerce company Tokopedia.

Founded in 2011, Global Digital Niaga belongs to one of the largest conglomerates in Indonesia, the Dajarum Group, which is controlled by brothers Hartono R. Bodhi and Michael. The brothers topped the list of Indonesia’s 50 richest when it was published last December, with a net worth of $42.6 billion.

The family’s extensive holdings include a controlling stake in Bank of Central Asia (BCA), one of Indonesia’s largest banks, as well as cigarette maker Dajarum, which was started by their late father Ui Wei Guan. Djarum Group’s investments in technology are led by Bodhi’s son Martin Hartono, who invests in startups such as Gojek, 88 Rising and Razer.